A competitive market system is efficient. Discuss and explain this statement in detail. Your answer may include diagrams.

How do price controls affect the workings of a perfectly competitive market? Use a supply demand diagram as part of your answer.

Please no written by hand and no image According to the Washington Post article The Downsides of Cheap Corn, farmers' 2014 crop revenues were down from prior years, despite very productive harvests all around the United States. Which of the statements is the explanation offered by the article for this apparent paradox? The costs of farming have increased faster than productivity, leading to higher crop yields but lower profits. An influx of farmers entering the agricultural market has led to fierce competition, driving down revenues. The increase in the supply of crops has decreased prices by a greater percentage than the percentage increase in quantity of sales. Consumer demand for agricultural crops such as corn, soybean, and wheat are at record lows

Is it fair to deem some activities virtuous and others not in an imperfect market? Please provide the source of the Information and explain in detail

Choose the one alternative that best that answers the question. Assume the market for organic produce is perfectly competitive. All else being equal, as more farmers choose to produce and sell organic produce, in the long-run, Select one: a. The equilibrium price is likely to increase, and profits are likely to remain unchanged. b. The equilibrium price is likely to remain unchanged, and profits are likely to increase. c. The equilibrium price is likely to decrease, and profits are likely to decrease. d. The equilibrium price is likely to increase, and profits are likely to increase. e. Both the equilibrium price and quantity are likely to remain unchanged.

If a technological advance lowers a firm's production costs, why do prices typically fall?Shouldn't the firm maintain the same price and earn economic profit?

Please graph four market models. Change the designated schedule in each model and indicate the outcomes in the answer key.

Evaluate and explain the following statement: The market system is a profit-and-loss system.

Under certain assumptions, the perfectly competitive market can be used to explain the three conditions that satisfy general equilibrium and pareto optimality. Identify these assumptions and carefully discuss the three (3) conditions for Pareto Optimality. Please provide in - text citations and academic references

In perfect competition market the goods which are sold are ___________ in nature